GST FAQ

What is Quarterly Returns with Monthly Payment (QRMP) Scheme?

• All taxpayers whose aggregate annual turnover (PAN-based) is up to ₹ 5 Crore in the current financial year and the preceding financial year (if applicable) and have already filed their last due Form GSTR-3B return, are eligible for the QRMP scheme

Invoice Furnishing Facility (IFF)

• IFF stands for Invoice Furnishing Facility for taxpayers who have opted for QRMP scheme to declare outward supplies to a registered person for first two months of any quarter. It is an optional facility. The facility will be similar to Form GSTR-1. It allows filing for only B2B invoices, credit notes, debit notes etc. Last date of filing IFF for a month is the 13th of the next month. This will allow recipient taxpayers to take credit of these invoices in the same month, if reported in IFF, by the supplier taxpayer under QRMP scheme.

Can I avail the QRMP scheme at any point of time during a financial year?

1. Q1 (April – May – June)                   1st February’ to 30th April’

2. Q2 (July – August – September)             1st May’ to 31st July’

3. Q3 (October – November – December)  1st August’ to 31st October’

4. Q4 (January – February – March)     1st November’ to 31st January of next year